Assumable shortlist #02
21903 Esaws. Thin carry. Keep, with conditions.

I am Joe Homs, designated broker of Pellego, California DRE #00702131. I have 50+ years in this market, 600+ closed transactions, and 8 books. 350 people are licensed with Pellego, Inc. I screened this house on October 31, 2026, Pacific time. The index of briefs is the assumable shortlist. Brief #01 is 6855 Manzanita Ave in Twentynine Palms. The book is Assuming Advantage.

The house

The verify packet did not include bedrooms, bathrooms, square footage, year built, or days on market. I will not fill those in. The part of my screen that asks for at least 3 bedrooms and 2 baths is not confirmed until those fields are in the file.

The loan and the carry

One VA loan. The rate is 3.09 percent. The balance on the screen is an estimate: $275,349. Principal and interest is $1,315.76 a month. The gap is the list price minus that balance: $315,000 minus $275,349 is $39,651.

Market rent on the screen is $1,714 a month. Tax is $288.75 a month. Insurance is $105 a month. HOA is $0. Cash flow is rent, minus tax, minus insurance, minus HOA, minus principal and interest: $1,714 minus $288.75 minus $105 minus $0 minus $1,315.76 is $4.49 a month. That figure is before vacancy and capital expenses. The solar payment is not in it.

Verdict

KEEP — pass-with-conditions. On the October 31, 2026 screen the paper test cleared: a single VA lien at 3.09 percent, a list price of $315,000, and a gap of $39,651 inside the $0 to $100,000 band. Be clear about the carry. $4.49 a month is a breakeven note. It is not a cash-flow asset. The house is AS-IS and needs repairs. A solar contract is attached, and that payment is not in the $4.49. I would not move this to an offer until the conditions below are checked.

Set this next to brief #01, 6855 Manzanita Ave in Twentynine Palms. Manzanita carries about $340 a month more, and the rate is lower: 2.7 percent against 3.09 percent here. Esaws is the lower list price, $315,000 against $330,500. The gap is not lower. Manzanita’s gap is $23,655. This one is $39,651. Esaws earns the seat on the lower list price and a single VA lien. It does not earn the seat on the monthly carry.

Conditions

1. Re-verify Active in CRMLS Matrix when Matrix recovers. Active status today rests on PropStream only. MLS# HD26225464 was Active and on market in that pass. Matrix did not confirm it. I will not do offer work until Matrix confirms Active and the MLS record matches.
2. Get the AS-IS repair scope and the cost. Ask the listing agent for the disclosure package, and walk the house with a contractor. I do not have a repair number. Every repair dollar adds to the gap. The $4.49 a month does not pay for the work.
3. Read the solar power-purchase agreement. I need the monthly payment, any escalator, the remaining term, and the provider’s transfer and credit requirements. That payment is not in the cash flow above. If the tenant does not pay it, it comes straight off a $4.49 cushion and the deal goes negative.
4. Re-verify the loan balance and the servicer. Order the lender’s payoff and assumption package. The $275,349 balance is an estimate. The $39,651 gap is only as good as the current balance.
5. Stress vacancy and capital expenses. Vacancy at 8 percent and capital expenses at 5 percent take the carry to about −$218 a month. That stays inside the −$300 line I am using, with about $82 of room. A light rent comp, a realistic high-desert insurance quote, or the solar payment landing on the owner takes it below −$300. Treat the carry as marginal.

What this screen left off

Four properties came off this pass, so the keep file stays a keep file.

• Pinon Drive in Yucca Valley. A notice of default, pre-foreclosure, and vacant. I do not keep a house in that posture. The cash flow was not the point.
• Desert View in Desert Hot Springs. Off market, and two liens.
• Quarter Horse in Hesperia. Cash flow about −$798 a month. That is past the −$300 line.
• Burlwood in Lancaster. The gap was about $126,000, past the $100,000 ceiling.

I am not publishing addresses that are still unverified.

Source

PropStream verify pass on October 31, 2026, Pacific time. MLS# HD26225464. That pass showed Active and on market in PropStream. CRMLS Matrix was not verified. I am not linking the vendor search from this page. Bedrooms, bathrooms, square footage, year built, and days on market were not in the packet.

Read this with the brief

Start with assumable mortgage basics and the VA assumable mortgage requirements. The longer treatment is Assuming Advantage. Compare the carry with brief #01, Manzanita. The index is the assumable shortlist. The rest of how I work with investors is on the investors page.

How to reach me

Work: (949) 625-4533. Direct cell: (949) 394-0149. Open daily, 9 AM to 8 PM. The office is at 23121 Verdugo Dr #100, Laguna Hills, CA 92653.

This brief is an illustrative underwriting screen. It is not an offer to sell or buy 21903 Esaws. It is not a solicitation of the listing. It is not legal advice or tax advice. It is not a promise of profit. Active status is PropStream only until CRMLS Matrix confirms it. The rent, tax, insurance, balance, and solar payment can change. A buyer has to qualify with the lender and with the VA. Verify every figure yourself before you write an offer.

The record

• 50+ years in Orange County real estate. Licensed since 1977.
• 600+ closed transactions.
• 4.9 from 63 Google reviews.
• 350 Pellego team members, licensed with Pellego, Inc.
• Author of 8 real estate books.
• My license is DRE #00702131. Pellego, Inc. corporation license is DRE #02043232.
• Work (949) 625-4533. Direct cell (949) 394-0149.
• Office: 23121 Verdugo Dr #100, Laguna Hills, CA 92653. Open daily, 9 AM to 8 PM.

Questions